Major players in the controlled release drug delivery market are Johnson And Johnson, Merck And Co. Inc., Alkermes Plc., Coating Place Inc., Corium International Inc., Depomed Inc., Pfizer Inc., Aradigm Corporation, Capsugel, GlaxoSmithKline Plc., Bayer Healthcare LLC, Collegium Pharmaceuticals, GE Healthcare, Adare Pharma Solutions, Allergan Plc., and Novartis AG.
The global controlled release drug delivery market is expected to grow from $52.93 billion in 2022 to $59.20 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The controlled release drug delivery market is expected to reach $92.60 billion in 2027 at a CAGR of 11.8%.
The controlled release drug delivery market consists of revenues earned by entities by providing services such as mucoadhesive drug delivery, implantable drug delivery, and gastro-retentive drug delivery.The market value includes the value of related goods sold by the service provider or included within the service offering.
The controlled release drug delivery market also includes sales of nebulizers, infusion pumps, and other systems used to provide controlled release drug delivery.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Controlled release drug delivery refers to a dosage form that administers a medicine or medication in a specified way. This drug delivery method continuously delivers pharmaceuticals or medications in predictable kinetics for the predetermined time.
North America was the largest region in the controlled release drug delivery market in 2022. The regions covered in the controlled release drug delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of technology used in controlled release drug delivery are the wurster technique, coacervation, micro encapsulation, implants, transdermal, targeted delivery, and others.The wurster technique, often referred to as fluid bed microencapsulation is the encapsulation of discrete particles in a fluidized bed employing differential air flow to produce cyclic movement of material.
It involves several release mechanisms such as polymer-based systems, micro-reservoir partition-controlled drug delivery systems, feedback-regulated drug delivery systems, activation-modulated drug delivery systems, and chemically activated, which are used in applications such as metering dose inhalers, injectables, transdermal and ocular patches, and others. Major end-users include hospitals, clinics, personal, research, and others.
The rising prevalence of chronic diseases is expected to propel the growth of the controlled release drug delivery market.Chronic diseases are also known as noncommunicable diseases.
It refers to conditions such as heart disease, cancer, and diabetes diseases lasting more than a year and requiring continuing medical care, limiting everyday activities, or both.Controlled-release drug delivery is crucial for treating chronic diseases.
For patients with chronic illnesses that require years of treatment or those who reside in areas with limited resources and access to healthcare, drug delivery formulations that allow prolonged medication release are essential.For instance, in September 2022, according to report shared by the World Health Organization (WHO), a Switzerland-based health-specialized agency, every year, 41 million people die from chronic diseases, which accounts for 74 percent of all fatalities worldwide.
Before the age of 70, 17 million individuals lose their lives to chronic illnesses. Moreover, 77 percent of deaths from chronic diseases occur in low- and middle-income nations. And these numbers are expected to rise in the future. Therefore, the rising prevalence of chronic diseases is driving the growth of the controlled release drug delivery market.
Technological advancement is a key trend gaining popularity in the controlled-release drug delivery market.Major companies operating in the controlled-release drug delivery market are adopting new technologies to sustain their position in the market.
For instance, in October 2020, Evonik Industries AG, a Germany-based pharmaceutical manufacturer, launched Eudratec Fasteric, an oral drug delivery technology that increases gastric resistance and improves intestinal absorption for oral drug products that target sites in the upper small intestine, where there is a narrow absorption window. Moreover, it may be processed quickly and easily using common tools and is appropriate for use with a variety of oral dosage forms, including multiarticulate, tablets, and capsules.
In May 2020, Adare Pharmaceutical Inc., a US-based pharmaceutical company that provides advanced pharmaceutical technologies, acquired Orbis Biosciences Inc., for an undisclosed amount. With these acquisition, Adare Pharmaceutical Inc hopes to extend its platforms to create drug particles that can be dosed in oral liquid, intravenous, and otic dosage forms and widen its product offerings. Orbis Biosciences Inc. is a US-based biotech company that develops controlled-release delivery technologies for the oral drug, medical, chemical, and consumer product industries to improve compliance.
The countries covered in the controlled release drug delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The controlled release drug delivery market research report is one of a series of new reports that provides controlled release drug delivery market statistics, including controlled release drug delivery industry global market size, regional shares, competitors with a controlled release drug delivery market share, detailed controlled release drug delivery market segments, market trends and opportunities, and any further data you may need to thrive in the controlled release drug delivery industry. This controlled release drug delivery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.